Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 10,000 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now owns 293,582 shares of the company's stock, valued at $35,229,840. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Cloudflare Trading Up 2.6 %
Shares of NYSE NET traded up $3.23 during midday trading on Tuesday, reaching $127.16. 6,065,296 shares of the stock were exchanged, compared to its average volume of 3,026,295. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a market capitalization of $43.88 billion, a price-to-earnings ratio of -578.00 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a 50-day simple moving average of $137.01 and a two-hundred day simple moving average of $110.56.
Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have recently commented on NET. Truist Financial upped their price target on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Guggenheim increased their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a report on Friday, February 7th. Scotiabank boosted their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. Stifel Nicolaus increased their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, UBS Group lowered their price target on Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and an average target price of $135.64.
Check Out Our Latest Research Report on NET
Hedge Funds Weigh In On Cloudflare
A number of large investors have recently modified their holdings of the business. CreativeOne Wealth LLC raised its stake in shares of Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after purchasing an additional 58 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock valued at $709,000 after acquiring an additional 77 shares during the period. Atomi Financial Group Inc. increased its stake in shares of Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock worth $319,000 after purchasing an additional 94 shares during the last quarter. Baxter Bros Inc. raised its holdings in shares of Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock valued at $296,000 after purchasing an additional 100 shares during the period. Finally, Ellevest Inc. grew its holdings in Cloudflare by 2.3% during the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after purchasing an additional 102 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.
About Cloudflare
(
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Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.
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